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2382 Cedar Ave, Long Beach, CA 90806
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2382 Cedar Ave Long Beach, CA 90806

$2,000,000 Sold Price as of 11/12/2019
  • 16 Beds
  • 16 Baths
  • 7,512 Sq.Ft.
Sold
$2,000,000 Sold Price as of 11/12/2019 Refinance Your Mortgage
Map preview of 2382 Cedar Ave, Long Beach, CA 90806

Property Overview: 2382 Cedar Ave Long Beach, CA has 16 bedrooms, 16 bathrooms, 7,512 living square feet and 6,503 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: We are pleased to present an eight-unit multifamily property located in an excellent rental market of Long Beach, California. Built in 1986, the property has approximately 7,512 rentable square feet on a 6,501 square foot lot. The subject property has a great unit mix of all two-bedroom / two-bathroom units. Owners enjoy the high demand for rentals in a coastal city. This a rare opportunity to acquire a quality asset in an outstanding rental market and would make a great addition to any investors portfolio. The city of Long Beach continues to progress forwards and is currently experiencing major redevelopment of $3.5 billion. An example of this large-scale redevelopment is the Long Beach Civic Center, which is completed late 2019. The Civic Center will include a new city hall and the Port of Long Beach headquarters, as well as multi-family residential units. Long Beach sustains its ability to attract renters due to its strong economy and high quality of life.

Listed by Kevin King | BRE #01158184 | Marcus & Millichap
Last checked: 1 minute ago | Last updated: March 22nd, 2022 | Source CRMLS | DOM: 22

Home details

Lot Sq. Ft
6,503
HOA Dues
$0/mo
Year built
1986
Garage
--
Property Type:
Multi Family
Status
Sold
MLS#
PW19222261
City
Long Beach
County
Los Angeles
Time on Site
1411 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 8
  • Total # of Buildings: 1
  • # of Electric Meters: 8
  • # of Gas Meters: 8
  • # of Water Meters: 1
Unit Breakdown 1
  • # of Units: 8
  • # of Beds: 2
  • # of Baths: 2
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,125
  • Total Rent: $9,000
  • Pro Forma/Market Rent: $1,695
Multi-Family Income/Expense Information
Property Income and Analysis
  • Gross Rent Multiplier: --
  • Gross Scheduled Income: $108,000
  • Net Operating Income: $58,567
  • Gross Operating Income: --
Annual Expense Breakdown
  • Total Operating Expense: $46,193
  • Electric: $1,200
  • Gas/Fuel: $1,200
  • New Taxes: $24,750
  • Trash: $1,200
  • Gardener: $1,200
  • Insurance: $3,005
  • Maintenance: $5,200
  • Professional Management: $5,238
  • Water/Sewer: $1,200
  • Other Expenses: $2,000
  • Other Expense Description: Misc.

Property Details for 2382 Cedar Ave

Interior Features
Heating Information
  • Has Heating
  • Floor Furnace
Laundry Information
  • No Laundry
  • None
Interior Features
  • Levels: One, Two
Exterior Features
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Lot Information
  • Lot Features: 6-10 Units/Acre
  • Lot Size Source: Assessor
Property Information
  • Common Walls: 2+ Common Walls
  • Total # of Units: 8
  • Parcel Number: 7205016002
  • Year Built Source: Assessor
  • Property is Attached
Homeowners Association, Utilities, Taxes / Assessments
Utilities Information
  • Sewer: Public Sewer, Septic Type Unknown
  • Water Source: Public
Location / Neighborhood
Location Information
  • Subdivision Name: Eastside (ES)
  • Directions: Cedar & Willow
Neighborhood Information
  • Community Features: Curbs, Sidewalks
View more facts & features

Local Long Beach Agent

Sale History for 2382 Cedar Ave

Last sold for $2,000,000 on November 12th, 2019

  • November, 2019

  • Nov 12, 2019

    Date

    Sold

    CRMLS: PW19222261

    $2,000,000

    Price

  • Oct 9, 2019

    Date

    Pending

    CRMLS: PW19222261

    $2,200,000

    Price

  • Sep 17, 2019

    Date

    Active

    CRMLS: PW19222261

    $2,200,000

    Price

Tax History for 2382 Cedar Ave

Assessed Value (2020): $2,000,000
Year Land Value Improved Value Assessed Value
2020 $1,000,000 $1,000,000 $2,000,000

Home Value Compared to the Market

This property vs the competition

2382 Cedar Ave sold on November 12, 2019 for 146.64% higher than the current median sold price for the city of Long Beach which is $892,000. The median sold price per/sqft for Long Beach is $659 and this home is sold at $292.86 per/sqft which puts the price per square foot 55.56% lower than the current median sale per square foot for the city of Long Beach.

About 2382 Cedar Ave

Detailed summary of property

2382 Cedar Ave is a multi family that recently sold in Long Beach, CA 90806. This multi family property offered 16 bedrooms, 16 bathrooms, roughly 7,512 living square feet, and sits on an approximately 6,503 square foot lot. 2382 Cedar Ave was first listed on ArdentRealEstateGroup.com on July 21, 2020. The homeowner sold the property for $2,000,000. Home in Long Beach are selling for a median price of $892,000 and a median price per square foot of $659. Based on Ardent Real Estate Group's Long Beach Market Data, this home is sold 146.64% higher than the current median priced home. Local homes that are currently for sale include 751 Cerritos Ave, 1464 Gardenia Ave and 1706 Sherman Pl. While the average home in Long Beach, CA is selling in 50 days, 2382 Cedar Ave has a days on market of 22 days. There are currently 678 homes for sale in the Long Beach real estate market and 386 of them are single family homes while 274 of them are condos and 18 are townhomes. For more information on this home for sale at 2382 Cedar Ave Long Beach, CA 90806 contact Ardent Real Estate Group and we will put you in touch with one of our Long Beach agents.

Public Facts for 2382 Cedar Ave

Public county record property details
Beds
16
Baths
16
Year built
1986
Sq. Ft.
7,512
Lot Size
6,502
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
2
APN
7205-016-002

The source for these homes facts are from public records.

90806 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$799,000
Median List Price/Sq.Ft.
$573
Median Sold Price
$600,000
Median Sold Price/Sq.Ft.
$641
Total Inventory
16
Median Sale to List Price %
101.69%
Avg Days on Market
16
Loan Type
Conventional (55.56%), FHA (11.11%), VA (0%), Cash (0%), Other (33.33%)

Thinking of Selling?

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Thinking of Selling?
Call, Text or Message
(714) 706-1823

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Based on information from California Regional Multiple Listing Service, Inc. as of 2019. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.

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